In order to resolve the risk effectively, the stakeholders from the following several aspects to the implementation of the application for bankruptcy:
1, the application
Bankruptcy is a right of the debtor, the debtor has the following reasons can apply to the court for bankruptcy: enterprise fails to pay off its due debts, and its assets are insufficient to pay off all the debts or the apparent lack of liquidity. "Unable to repay debts" means: the debtor creditor relationship is established in accordance with the law; deadline to fulfill the debt has expired; the debtor has not fully repaid the debt. The debtor to pay off the debts and stop a continuous state, if there is no evidence to the contrary, be presumed to be "fails to pay off its due debts". "Assets are insufficient to pay off all the debts" refers to: the balance sheet of the debtor, or the audit report, assets evaluation report shows all of its assets are insufficient to pay off all the debt, but there is evidence to the contrary is sufficient to prove the debtor to repay all the debt assets except the. "The apparent lack of liquidity" refers to: the debtor's assets are greater than the debt, but there are the following: due to lack of funds or property cannot cash to pay off its debts; and other reasons, the legal representative of one's whereabouts is a mystery. And no other personnel responsible for the management of property, unable to repay the people's court for compulsory execution, unable to pay debts and long-term losses; business losses difficulties, unable to pay debts in other circumstances; debtor insolvency.
2, the application for
China made no restrictions on creditors for the debtor bankrupt conditions. If the debtor fails to pay off its due debts, the creditor may apply to a people's court reorganization or bankruptcy liquidation of the debtor to apply for, without having to prove the debtor cannot pay their debts or the apparent lack of liquidity.
3, responsible for liquidation
An enterprise as a legal person is dissolved but has not been liquidated or unliquidated completed, assets are insufficient to pay off the debts, the person liable for liquidation shall apply to the people's court for bankruptcy liquidation.

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